In a groundbreaking initiative, the Institute of Business Administration (IBA) Karachi and Bank Alfalah have joined forces with the Stanford Life Design Lab to introduce the Design Thinking Program in Pakistan. This collaboration, officially launched at a curtain-raiser event at the flagship Bank Alfalah Islamic Branch in Sky Tower, aims to equip professionals with the tools and mindset of Design Thinking, a methodology known for driving innovation and problem-solving.
Design Thinking focuses on understanding user needs, fostering creative solutions, and developing prototypes, enabling organizations to significantly improve revenue, customer satisfaction, and employee engagement. The partnership between IBA Karachi, Bank Alfalah, and Stanford Life Design Lab seeks to bring this powerful methodology to the forefront of Pakistan’s business landscape.
Dr S Akbar Zaidi, Executive Director of IBA Karachi, expressed his enthusiasm for the collaboration, stating, “We are delighted to partner with Bank Alfalah and Stanford Life Design Lab to introduce Design Thinking to our students and the business community. This program will equip our graduates with the skills they need to become future leaders and innovators.”
Bank Alfalah, recognizing the transformative potential of Design Thinking, is the first organization in Pakistan to implement the program within its senior management. By leveraging the expertise of Stanford Life Design Lab and collaborating with IBA Karachi, Bank Alfalah aims to foster a culture of innovation and enhance its ability to deliver exceptional customer experiences.
Atif Bajwa, President and CEO of Bank Alfalah, highlighted the significance of the partnership, saying, “This collaboration aligns with our vision of driving innovation and creating customer value. By equipping our leadership team with Design Thinking skills, we are confident in our ability to stay ahead of the curve and deliver exceptional results.”
Dr Muhammad Imran, Group Head of Islamic Banking at Bank Alfalah, emphasized the importance of innovation in the banking industry, noting, “Design Thinking is a powerful tool that can help us better understand our customers’ needs and develop solutions that meet their expectations. We are committed to leveraging this methodology to create innovative financial products and services.”
This strategic partnership marks a significant milestone in Pakistan’s journey toward a knowledge-based economy. The collaboration between Bank Alfalah, IBA Karachi, and Stanford Life Design Lab is expected to contribute to the country’s economic growth and development by fostering a culture of innovation and creativity across various sectors.
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